The Seaforth News, 1929-03-07, Page 6Bulwark of $100,000,000 ] LIMERICK, CORNER
Protects Sun Life Investments
Unique Financial Position of Company Discussed by
President Macau ay in Annua ress
Wares', Feb. 14, -The, phenomenal growth and suwcees of the Sun Lite
Assurance Company of Canada lend! widespread interest each year to the
dhnual address of the President, Mr, T, B, MacAulay.
The anneal meeting, which has just been held, disclosed a continuation of
this expansion, but, it was more noteworthy still for an announcement, almost
atartl'ing in character, by Mr. 154aeaulay regarding the flztancial strength of
the Company. Ile stated that so earOfally had the directors anticipated every
possible Adverse contingency in the money market that eyes a panto which
would reduce the value of the assets by one hundred millions of dollars would
still leave untouched and Unimpaired the shown surplus and reserves of the
Company.
Mr. Macaulay dwelt as well in a most interesting and illuminating man-
ner upon the relative merits of the varied securities in which insurance coin.
panles invest their feuds, and of haw traditional views on investment have
altered awing to the changed conditions of modern business? Ho said in part.
4'A mere statement of the increases No Magic In Bond'
Over the figures of the previous -year) "Consider mortgages, What cora-
ls impressive. Inincome the increase ! pany has not suffered losses, and
Is $41,972,000;, la assets $87,650,000; in sometimes very heavy losses, on it
Joyous Jingles By Gifted RliYmetors
Hundredsof contributions are reaching Us that jUst.fall short
of requirements either ho rhyme, rythtn Or expression, but we hope
those who have failed so far will not be discouraged, but Hike, the
historic spider will try 'again.
Strive for originality in the idea behind the limerick as well
as in the manner of expression.
The following are a few of last week's winners,
Helnt;man Plano%
There was a young lady named
Anna,
Who wauted to have a piano,
Said her Ma it is true
No other will do
But a Heiutzmau Upright for our
Anna,
MRS. R. lei, TAYLOR,
Nipawin, Sask.
Purity Flour
s There was an old lady named
earplus $9,157,000; in new assurances mortgage investments? As to .bonds
$112,836,000; and in total in force some people seem" to consider that
$408,926,000, A gocupany with total there is magic security in the labsI
business equal to these increases `bond'. This popular belief is not
would bo a large and powerful institu- supported by experience. The sur -
tion, It is but three years since we plus earnings and margins of many
rejoiced at passing the mile -stone of companies, over and above the div -
$1,000,000,000 of assurance in force, deed requirements et their stocks,
and yet already we are nearing $2,000,- are much greater than the surplus
000,000, while at this moment our as-, earned by other companies in excess
sots exoeed $500;000,000, of the Interest requirements of their
"Bat there is another' feature even bonds. Few experienced Rnancieve
mora striking and important. Advance would claim that the bonds usually
offered are safer than, or even as safe
as, stook of such companies as the
Montreal,- Light, . Heat & Power,
American Telephone and Telegraph,
Commonwealth Edison, and many
others I could name. The payment
of the interest on the bonds is cer-
tainly no more sure than the pay-
ment theiv
m t of dividends on the stocks.
In the very unlikely event of the diva,
dend on any such choice stock being
reduced, it would be certain to be
far more than offset by increases Rn
the dividends on others. Our own
average interest rate has been
steadily mounting year after year,
figures indicate that the increase over
the previous year in the new business
written by the combined life com-
panies
orapanies of the Continent was approxi-
nlately 8 per cent, ,and the increase
in the combined total in force approxi-
lbtately 9 per cent. Against these Outages let me place the figures of the
un Life: ur new assurances increas-
totalin
per -
to 84perSent., while our
11 t
,
r Oo i ereavd $7 perae
nt.
"I need not further emphasize the
id ozpanelon of our business. It is
a continuation, though in =osier -
degree, of our normal condition,
the Company is extraordinarily dun solely to increased dividends and
opular with the insuring public is art- bonuses received on our stocks be-
ont, But people will hardly s' ow so yond the rates payable on those
ouneed a pretereu0e without ren- stocks purchased by us in 1023; the
n. That reason unquestionably is actual cash yield from these in 1928
groat strength of the Company,
.ft unusual profit -earning power.
' earnings announced in the report
fie slightly to excels of $40,000,000;
ut it is clearly intimated that had we
sired to do so we could have taken
Credit for a much larger amount. We
however follow our usual conserve
Live policy. We always have before
our minds the possibility of a :easiness "I will now say a few words about
depression, which might occasion the Bill we have before Parliament.
heavy shrinkage in market values bf There has been so much misunder-
all Glasses of securities. Mortgage standing and misrepresentation about
crcurlties may at such a time become it that I think you would like a plain
i•,inay unsalable but that fact is not statement of the facts.
l 'her; while every fluctuation in the "The original Charter, granted in
i etes at which stocks and bonds can 1865, authorized the Company's rapi-
ne ..reed into immediate cash ie tat at $4,000,000. An amending Act
c, • ' ou the Stock Exchange. passed in 1871 contained a somewhat
t,r,tles Heavily Undervalued ambiguous clause, which has been in-
terpreted in some quarters as limiting
' 1 Lave decided to take our policy- the capital to $2,000,000. Five emi-
t. luta our confidence in the neat legal authorities to whom we
1 :. complete way, so that they may submitted the question assure us that
1 ..,lah how fully our directors have the original authorization was unaE-
p.er:ded against any contingency of fewted by that amendment, but ad -
1.:= kind. You will notice that we wised us that It would be well to have
that the values quoted are those the matter put beyond doubt by a
.x by the government department brief clarifying Act of Parliament.
or :ower. There is much in those "We do not ask that the capital be
tee words, They mean that the increased; we merely ask that our
v"„nes given in the report are ape right to issue stock up to the amount
proximately $62,500,000 less than the originally authorized be freed from
atual current values of those securi- legal ambiguity by a simple declare -
ties on the Exchanges. Then we tory clause,
have the additional deduction from "But why do we require a larger
market values of $20,000,000, referred capital than the present $2,000,000?
to in the report, and also the special "Chiefly for two reasons:
contingency reserve of $12,500,000. "(1) Because the present capital
These items total $95,000,000, and our is manifestly out of all proportion
utilised assets and other margins to the magnitude of the Company's
raise the amount to $100,000,000. operations. It is absurd that a Com -
"This means that the market values Dan?, whose assets are already $500, -
of our securities could shrink by 000,000, should be controlled by a
0100,000,000 without reducing our capital of $2,000,000.
surplus by one dollar. Such a shrink- "(2) Because we wish to .sure
age is Of course almost inconceivable, that this great Company sha =ver
I indeed doubt very much if even the fall into undesirable hands. a Jan -
catastrophe of another world war not alter the status of our e -,.sting
could produce so drastic a depres- shares, but we can impose restrictions
sion. Supposing it did, we would still on the transfer of the new shares
have intact our undivided surplus of which will be an effectual safeguard.
over 054,000,000. We are hardly likely, "21 has been said that such an
I think, to be criticized for lack et increase would divert from the
conservatism. I do not know any policyholders profits properly belong -
other financial corporation which has Ing to them. This is the exact oppo-
its assets so protected. I imagine we site of the truth.
sire more likely to be told that wo "The Insurance Act allows stock -
have been "too conservative; if so, holders to receive ten per cent. of
that is a criticism we must endure, the profits distributed from the par.
Our safety margins may perhaps be
unnecessarily large, but safety —wit
be our paramount consideration; and
if, as we confidently anticipate, the
margins prove not to be required,
they will in time be available for dis-
tribution among our policyholders.
And what possibilities for our policy-
holders do these mattes represent:
investment Provisions
"ft may be timely to summarize
briefly the provision of our law.
T- ey permit investments in:—first,
mortgages (up to sixty per cent, of
the appraised value); government
end municipal bonds; corporation
bonds secured by mortgage; pre-
ferred stocks of corporations which
have paid dividends for the preceding
Jive years; and common stocks of
pprporatlons which have paid divl
t beds for the preceding seven years,
each dividends being not less than
tour per cent. per annum or $600,000
Pk annum la amount. These pro-
r8lons avoid the extreme both of
it *Nse freedom and of harmful re-
eltetion. To my mind they are
almost ideal,
Our list of tweets shows, that we
Oyn securities of large amount in aft
ole iles authorized by the Aet,
"For a very considerable part of
aim investments we must, conse-
stlentiy, look to those Classes of com-
elon stocks which are authorized by
o r Canadian Act, Foi'tunately,when
the .acmedegree of care as is emus -
eery for safety to selecting mortgages.
and bends is applied to the selection world has been found in Alaska and
of
Common
stook I
s, especially Within Is on its wa
to
Y Washington without
ilio
the gonservativo limits lath down by b g ut
the
.AM, these sleeted securities are, eing elected.
in the lodgment and experience of What Mussolini will do if he ever
the thoughtful and well-informed, stops running Italy is more than we
among the choicest encl safest of alt know, but he has an ideal itispositien
investments and ,by far the most
Profitable and deslr'at,le, %err the driver of It highway bus.
represented a return of 2.38 per cent.
on the purchase price greater than
the dividends payable on these stocks
at the time of purchase, while the
average value of the rights and
bonuses received during the inter-
vening live years has amounted to a
further .38 per cent. per annum.
The Bill Before Parliament
cipating branch. Our stockholders
long ago reduced their share to five
per cent. All our contracts for thirty
years past have been made on the
agreement that the participating pol-
icyholders shall receive ninety-five per
cent. of these profits, and that right
any of our members Could enforce in
any court of law.”
•
Druggists Observe
Buckley's Cough Mixture Week
The week of February 28th to March'
6th is being observed by the retail
druggists of Canada as "Buckley's
Cough Mixture Week."
This week has been arranged by the
Retail Merchants' Association of
Canada and the Provincial Boards off
the Retail Merchants' Association, in
co-operation with Messrs, W. E.
Buckley Limited, the manufacturers.
This product has been 'on the market
for many years and because of its
rapidly increasing favor with Cana-
dians during the last few yearn, "The
Week" le being featured this season
to focus additional attention on this
fine cough remedy.
Play after play hag failed in New
York this season. People just can't
get a thrill out of the same old cuss
words
The largbst piece of ivory in the
1
Bower,-
Who always used Purity Flour;
She declared the day long
To be healthy and strong
Eat bread made of Purity Flour.
MRS, HENRY COULTHARD,
R.R. No. 1, Eugenia, Ont.
Royal Yeast
There was a farm woman named
Mary,
Whose bread was aslight as a
fairy; •
When -askedto explain,
She replied, "It is plain
Royal Yeast Cakes your worries
will, bury."
MRS. T, GENOE,
Ceylon, Ont.
Wrigley's Gum
There once was a boy found a
penny,
Who being a Scotty was canny,
So he bought Wrigley's 'Gum
And ire said, "Oh bum Salmi
I knew this was 'setter than any."
ELSiB1 ROBINSON,
Box 76, Prescott, Ont.
Red Rose Tea
Said a sprightly old man in Toronto,
"I drink all the tea that I want to.
As I've drunk but Red Rose
I've not got a red nose—
Wife, put on the teakettle pronto;"
MRS, H. W. Stevinson,
Macleod; Alta.
Salads Tea
A matron who lives in Nevada,
Recommends MY highly "Saluda".
Come friends when you can
To taste, my.Tapan,
My delectable Green Tea, Salada,.
MRS: II. B. FLETOII2IR,
Paisley, out
silo Ben Tobacco
There lived on the Island . of
Thacker,
A, jolly old termer named Packer,
Who said with a smile,;
"The 'Weed that's worth while
is a plug of this Big Ben 'Tabac-
eer' "
MISS 1VIOLLIE PATTERSON,
IBlenheim, Ont.
Royal Purple
There was an old woman at Shoos -
ter, -
•And she had a very sick rooster;
Royal Purple, she fed,
And She smiled and sire sald,,
"Now he crows again just like he
1100 'ter."
MRS. WARD BULLER, '
R.R. 8, Rldgetown, Ont,
Cuticura
Afi a e neglectede
r h r Cut
pp
y
To her skin -so she lost all her
beauty,
Although all those pimples
Detract from her dimples
Cuticura will cure her—poor cutie!
MRS, HURST,
Buckingham, Que.
IWearshIP and the purity of the faith
From12-16 Pant describes the object
which Christ had in Mind when he
fq.untied these different ministries
The fullill their mission in so far
as they are able to build up a strong
character and a Ann faith in these
who are committed tb their care. Paul
conclude* with the stateriont that all
ministers and people, are members of,
the' body o$ 0hsletr and each has his
part in the maldng of the church.
Good Natured Gossip
The squire's pretty young daughter,
accompanied by the new curate, was
examining the children of the village
school,
"Now, children," she began, "can
you tell me what a miracle is?" ,.
There Was no answer for a rnoznent,
and she was snout to repeat the ques-
tion when a little maiden held up her
hand.
"Well, Nellie," said the squire's
daughter encouragingly, "tell the class
what a miracle is."
"Please, miss," th.i little girl replied,
"mother says it'll be a miraele if you
don't marry the new curate!"'
Just Another Day
It was little Lucy's first ride in a
railway train, and the succession of
wonders bad' reduced her to a state
of hysterical astonishment,-.
Suddenly the train rounded a bend
and; with a piercing-ehriek from the
whistle, entered a tunnel.
There were gasps of surprise' from
the corner where little Lucy knelt on
her seat with her face pressed close
to the window. A few,seoonds later
the train rushed into broad daylight
once again, This proved too much
for the and.
Meddle," she .cried at the top of
her shrill 'little voice—"daddie, it's to-
morrow:"
,
A Local Directory
After several monthsof ardent
courtship the young man found We
dvances coldly rejected, and he took
t very badly.
"If you were to look on my heart"
he pleaded, "you'd find your name en-
graved on it in imperishable charac-
ers."
But the girl was. not a bit impressed.
he knew that he had proposed to
very girl in the district at least once
wring the ten years he had lived'
there.
'Rally," she drawled; "then you
must have a heart like a local direc-
tory by now."
Williams' Pink Piils
There was a young Toiler named 1
Tilly,
Who became whits and frail as a
lily,
Took Williams' Pink Pills, t
Which cured all her -Ills,,
And now she's as gay as a filly, s
MISS ETHEL Merrsua.AR,
Belmont, Ont. d
Mrs. T. Canoe, No decision haa
been reached as to when the con-
test will be closed. Compare care -
Cully the rythm of the limerick
with which you won a prize with
the others and you will see just
where they fall short.
Mrs. T. Neal. Sorry we cannot -
roturn any limericks : abmitted as
they are not kept.
There is plenty of enjoyment for
the whole family if all join in the
tun of writing Limericks.
Any nationally advertised article
or service found in this or any
previous issues of this paper may
be made the subject of a limerick.
One dollar will be sent for every
Limerick accepted. Give name and
address and name of this paper.
Write: • Limerick Editor, Assoc!.
ated Publishers, Rooms }21.5, 78
Adelaide St. West, Toronto, 2.
Sunday Scho
Lesson
Il
March 3. Lesson IX --The Christian
Church•—Mark 4: 26.62; Eph. 1: 22,
23; 4: 3.6, 11.16. Golden Text—So
we, being many, are one body 117
Christ.—Romana 12: 5,
ANALYSIS
I. THE PREDICTIONS OF JESUS, Mark 4:
28-32.
II, THE TEACHING OF PAUL ON THE
CHURCH, Ephesians 1: 22, 23;
4: 4-6, 11-16.
INTR0DUCTIoN—The Christian
Church is the most imposing and en-
during of all the institutions of the
world. It has outlived many of the
empires of the earth. It is a divine
institution, having been founded by
Christ; and we have his promise that
the gates of death will not prevail
against it, It is true that many evils
have disfigured the history of the
church and many unhappy divisions
still exist, but yet it remains as the
greatest helper of man is. all his
moral and spiritual aspirations.
I. THE PREDICTIONS OF JESUS, Mark 4:
26-82.
V. 28. This psrable is found only
in Mark, unless it is to bo regarded
as part of the parable of the tares,
Matt. 3: 24. It is one of many drawn
from agriculture, the chief occupation,
of the land of Israel.
V. 27. When the sower does his work
he has to wait and allow the secret
forces of nature to carry •on thtir
V. 28. Three stages in the growth
are given, the blade, the ear, the full
grain. This represents the progress
of the religious life, and some one has
made the following application. First
are the happy days of conversion
when the young heart surrenders
itself to Jesus; second, the period of
trial and doubt which sotnetttnes fol-
low, and third, the age of fruit, when
assurance has returned, and faith and
hope are firmly fixed in God and his
goodness,
V. 29. Christ is the sower. He will
also return as the reaper, In the
interval, the Spirit, all unseen, carries,
forward the work.
V. 31. In this second parable we
have a further illustration of .the
great faith which Jesus had in the
future ofi
his kingdom, He sawq nate
clean that a the
Y gospel g was to be.
preached to the most pdistant parts of
the earth. The small seed will become
a tree and alt kinds o'f birds will rest
on its branches. The condition ofthe
c:hureh today is the best justification
of these predictions of Jesus
IL THE TEACHING OF PAUL ON THE
CHURCH, Ephesians 1: 22, 23;
4: 4-6, 11-16.
When we pass from the Gospels to
the Epistles, we are struck by the fact
that wo do not hear nearly so much
about the kingdom of God, whereas
the word "church," which is found
only twice in the Gospels, is a common
term in Paul's writings. It would
appear as if the church now replaced
the kingdom. Paul's doctrine on the
church is an important part of his
spetem, and is unfolded very clearly
in Ephesians.
Ch. 1: 22, 23. These aro the con-
cluding verses of the first prayer of
Ephesians, in which Paul is snaking
intercession for his readers; and it Is
all summed up in the desire that they
may know Christ in all his glory and
power. Now among the various ele-
ments in Christ's authority is his rule
over the church, which is described as.
the body of Christ, This striking fig-
ure is also found in 1 Cor. chap. 12,
and it is meant to bring out many
truths concerning the church.
We notice. that Christ is described
as the head of the body. The mind
controls the body, but the body is the
necessary means for showing forth
the desire of the mind and for execut-
ing the resolves of the will. Thus the
church is the organ for the expression
of the mind of Christ. In the church
we have the most convincing witness
to the truth and spirit of Jesus. Paul
dote not merely think that the church
was originally founded by Christ but
he is convinced that Christ ati.- `lives
and moves in the church. It is his
body.
Chap. 4: 4-6. The next quality of
the church illustrated by the body is
its unity, and in these verses we have
what are called the seven unities of
the church, Itis to be observed that
none of these is concerned with out-
ward organization, so that we cannot
think that the Roman Catholic claim
is correct which teaches that there
can be no membership in Christ's
church unless we are within that
organization. Church unity does not
consist of any outward form, but all
the .attributes here mentioned are
spiritual and mental, They alt deal
with the faith of the heart. There
may be great diversity in outward
forhzs, but if there is agreement on
the great essentials of faith, there
may be real unityThe supreme de-
mand made on all .of us is to see that
we show forth the spirit of love and
brotherhood' '
Vs. 11-16, But yet organization is
necessary, and we know that from the
rot Paul appointed elders .in the
churches which he formed. In' these
verses it is to be noticed that he first
e
m nitrons apostles and prophets, These
e
were likely concerned with the entire
church and had no local of flee. They
were temporary, ant: the apostle re-
ceived his authority clitectly from
Christ. The masters and teacher's may
have beet the local ministers, and
were responsible for the conducted
A GHOST OP APIECE
Land Lady. Don't you- think this
pie bas a really haunting flavor?
Boarder: It sure has—mineeels a
mere ghost of a piece of pie.
Facts that are not frankly faced
have a habit of stabbing us in the
back.—Sir Harold Bowden.
During my church question period
over the radio Sunday night, 5 have
had irreverent card players telephone
in to ask how to play a certain poker
hand.—Rev. Christian F, Reisner.
POR SCHOOL YOURS •
A' patterned wool jersey, whose
smartness is instantly recognized in
flaring sides of skirt, achieved through
shirring at hips, The attractive turn-
over collar, turn -back flared cutis and
applied band at centre -front of blouse,
are of plain jersey. Style No, 879 is
designed in sizes6,8r l0 aan
12 years.
It
It is also effective blue wool
in navy
crepe, with bright red grosgrain. -rib-
bon pleatedto trim collar; band and
cuffs. Printed sateen, plain jersey,
wool chaIlis, lightweight tweed, linen,
chambray and velveteen also suitable.
Pattern' price 200 in stamps or coin
(coni is preferred). Wrap coin care-
fully.
HOW TO ORDER PATTERNS.
Write your name and address plain-
ly,
giving number and size of such
Patterns as you want. Enclose 20c in
'stamps or'coin (coin preferred; wrap
it carefully) for each number and
address your order to Wiison Pattern
Service, 73 West Adelaide St., Toronto.
Patterns sent by an early mail.
More. Than h
When a worried -looking man n pres-
enter' himself in the claims. depart-
ment of an insurance cornpany and
asked for settlement of a fireinsur-
ance Malt, the clerk asked a lot of
questions.
"No, not much damage," remarked
the worried one—"only a door burnt."
"How much do yet; think a new door
would cost. When did the:: the occur?"
"About eight rears ago," was the
answer to the last qucstton.
"Eight years?" echoed the clerk.
"And you've been all this time mak-
ing a claim. Why?"
"Well," replied the claimant, "my
wife has been at me ever since it was
burnt, and I couldn't stand it any
longer."
'A "seer" says 192 will be a fort-
unate year for females, thus making
the tenth year of that kind since 1918.
Bill: "What's your brother 'suffer-
ing from?" Phil: "Brain fever."
"05, I thought it was something seri-
ous"
1 F you ever have rheumatism,'
lumbago or other pains that
penetrate to the very bones
and joints, Aspirin offers such
quick relief, and such complete
comfort that it's folly.to suffer.
Keep these tablets handy in
the house; and, carry thein in
your. pocket. Then you need
never suffer long from any
attack of neuralgia, neuritic
riieutnatism,, or from a bac{
headache. Aspirin is always
a .marvelous 'antidote for an
:pain dud' has no effect en the
heart. .Proxen directions for.
many- valuable uses to every
box cif genuine Aspirin. Every,
druggist has it.
iRIN
Aspirin 19 a Trademark Registered is Canada
British Ca,u io
Revivified By
Grand Union
Npw Company to Link Water-.
ways and Organize gig
Transport System
London — Britain's blend water
traIslpos't z'eeently entersd - upon .a
definitely new phase when 240 miles
of canal came under the, `control: of
the newly Tgrnied Grand Union Canal
Company,
The Grand Union 00 an anealgaana-
tion of the companies controlling the
Regent"s• Canal, the Grand Junction
Canal, the Warwick 41 Birmingham
Caul, the Warwick & Warwick Juno.
tion Canal. The union of thesd sys-
tems represents the first tangible -
attemptto oaz'ry opt •the i'eeornmenda-
tions of the Royal Commission on
Inland Waterways of years ago,
This big ,amalgamation is regarded
as an important development. of the
movement to organize Britain's canal
system in affective competition with
the rail and road transport- eastems.
As a direct result of the union it
will be possible, to give but one ex-
ample to ship merchandise from Bom•
bay to Birmipgham, Cargo will be
:brought from overseas ports to Lam
don,; discharged into\ barges at the
Limehouse terminus of the Grand
'Union Canal, and transported without
further change to Birmingham, Co.
vent%', Leicester, or any town or
warehouse on the Wks of the Caton
canals.
In anticipation of the revival of
canal transport that will follow the
scheme of modernization,
s
are already being received for vacant
canal -side sites suitable for ware
houses and for wharves from manu-
factured and industrial and trading
concerns. '•
• There has been a steady increase
in the volume pf cargo carried on
English" canals during the last few
years. Figures supplied by the Re-
gent's Canal Company show that
732,937 tons of cargo were carried on
this stretch ;of -canal last year, come
pared with 585,556 tons in 1923, not -
to go through the great tunnels under
withstanding the fact that the eight -
hoar day has ourtailed,ti'ansport work•„
Ing time. The cargo carried was
chiefly coal, timber, grain, chemicals,
oils and foodstuffs.
The 2240 mites of canal to be con-
trolled by the Grand Union Canal
Company; with link the Thames direct
with Northampton, 'Birmingham and
Leicester. These great;ludustrial cen-
tres will, in turn, be linked up with
Derby, Burton and Nottingham by'
means' of the Mersey, Derby and Not-
tingham canal systems. The system
will have two direct outlets to-' the ��
Thames, one at Brentford on an arm'
of the Grand Junction Canal, the other
,at Limehouse, which is the eastern
terminus of the Regent's Canal and
the port of discharge for increasing
quantities of goods from the Conti-
nental ports. '
British Guiana
Colonization
Tests to Start
New Governor Hopes to In-
crease Population and ,
Improve Finances
Trinidad, W. L—If the colonization
scheme proposed for British Guiana
by Sir F. Gordon Guggi.sberg,the new
Governor, is successful, the country
will in 50 years have increased its
population from 306,000, the present
figure, to 2,000,000.
The Governor proposes immediately
to start experimental land settlement*
in order to demonstrate to prospective •
`settlers the benefits of residence Lt the
country.
If these turn out as anticipated, by
the end of 1931, an immigration organ-
ization will be set up and, with the.
assistance of a subsidized steamer
service, effe is will be made to attract
people from some over -populated sec
tion of the Empire, probably India.
British Guiana, whose Constitution
has recently been altered by an im-
perial'order-in-council giving the Dov-
er. -meat power to carry out a continu-
ous policy, is a bankrupe country.
Since 1921 there has been n deficit in
public finances of over $500,000 every
year.
It is, however, a country of immense
potentialities, and it is believed that
Sir Gordon Giggisberg, who has had
an extraordinarily successful- career
as an administrator on the Gold Coast,
will succeed in puttings things right:
Fortunately there exists a separate
fund of some $608,000 which he wilt
be able to use for the initial stages
oY the colonization scheme without the
necessity of increasing taxation.
Already an act has been passed by
the Legislature authorizing the floata-
tion of a loan oY $16,500,000, which
includes $250,000 for a survey of the
whole colony and $625,000 for the
establishment of an agricultural bank.
Two districts are to be surveyed at
price, one in .the northwest and tho
Other in what is known as the Allu-
vial Belt, where the principal crops
will be rice and sugar cane. When
tlcitable spotsots havb be
n,
elected, the
settleii w.ia wilt be onstructed, each
contahihog 100 1u k:yule;
e• s51llzs•Vintages willbeblt:fol _" 011es,eaoh whiritson school and a
adequate , water supply and cornice
-
tion with the nearest market,